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South Korea’s exports to emerging countries in Asia dropped in July from a year earlier, data showed Sunday, casting clouds over the export-reliant country‘s economy down the road.
South Korea’s exports to the members of the Association of Southeast Asian Nations, which include Indonesia, Vietnam and Thailand, shed 5.4 percent on-year in July, the Korea International Trade Association data showed.
The figure marked the lowest tally since a 25.7 percent on-year drop in August 2009, the data also showed.
South Korea had been maintaining a growth in exports to ASEAN countries since a 0.9 percent decline in September 2012.
Market watchers said the low demand for South Korean goods there came as investors retrieved their investment from such nations following news that the United States may reduce its quantitative easing in the near future, dealing a harsh blow to ASEAN countries‘ economies. (Yonhap News)
A monetary easing move by an advanced country usually induces investors to set their sights on emerging markets.
South Korea’s combined exports, however, amounted to $45.84 billion in July, up 2.6 percent from the same month last year, according to the Ministry of Trade, Industry and Energy, though the weak yen dented local exporters.
The country‘s exports to China, the U.S. and eurozone countries moved up 14.5 percent, 8.5 percent and 8.2 percent, respectively, over the cited period. (Yonhap News)
South Korea’s exports to the members of the Association of Southeast Asian Nations, which include Indonesia, Vietnam and Thailand, shed 5.4 percent on-year in July, the Korea International Trade Association data showed.
The figure marked the lowest tally since a 25.7 percent on-year drop in August 2009, the data also showed.
South Korea had been maintaining a growth in exports to ASEAN countries since a 0.9 percent decline in September 2012.
Market watchers said the low demand for South Korean goods there came as investors retrieved their investment from such nations following news that the United States may reduce its quantitative easing in the near future, dealing a harsh blow to ASEAN countries‘ economies. (Yonhap News)
A monetary easing move by an advanced country usually induces investors to set their sights on emerging markets.
South Korea’s combined exports, however, amounted to $45.84 billion in July, up 2.6 percent from the same month last year, according to the Ministry of Trade, Industry and Energy, though the weak yen dented local exporters.
The country‘s exports to China, the U.S. and eurozone countries moved up 14.5 percent, 8.5 percent and 8.2 percent, respectively, over the cited period. (Yonhap News)
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Articles by Korea Herald
